Volkswagen (pref) : FY margin guidance cut in light of new one-offs, including possible Audi Brussels plant closure
>FY margin guidance cut by 50bp due to € 1.6bn incremental one-offs - Volkswagen announced yesterday evening a downwards revision to its FY margin outlook (-50bp to 6.5-7.0% vs 7.0-7.5% before, VA consensus at 6.8%) as result of additional unplanned expenses amounting to € 1.7bn. In total, exceptional items should thus represent € 2.6bn this year affecting the VW Group and, in detail, the Core brand group, the Progressive brand group and the Financial Services Divisi...Volkswagen the parent company of the Volkswagen Group. It develops vehicles and components for the Group's brands, and produces and sells vehicles such as passenger cars and light commercial vehicles for the Volkswagen Passenger Cars and Volkswagen Commercial Vehicles brands. In the electricity sector, Co. performs electricity generation, sales and distribution together with a Group subsidiary. Western Europe, China, Brazil, the U.S., Russia, Mexico and Argentina are the key markets of the Group. The automotive division comprises the passenger cars, commercial vehicles, and power engineering segments, while the financial services division corresponds to the financial services segment.
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